By: James White, General Manager, Banking Industry

If there’s one phrase in banking that desperately needs rethinking, it’s “product penetration.” For years, it’s been the go-to KPI for measuring success and a stat we proudly toss around boardrooms: “Our average customer holds 2.3 products per household.” But here’s the uncomfortable truth that a recent article from the Financial Brand hits dead-on: stacking products DOES NOT EQUATE to deepening relationships. 

In fact, it’s often the opposite. Pushing for more products without understanding customer context can feel like financial speed-dating. You’re asking for long-term commitments before building foundational trust. 

What banks and credit unions really need isn’t more adoption; it’s better engagement. That’s the missing piece to the products-per-household puzzle. 

The article’s core point is that, as consumers, we don’t view ourselves as “multi-product holders;” we just want a financial partner who gets us. We want a bank or credit union that understands our current needs and long-term goals, then offers us relevant products and services. And that’s where Total Expert has been laser-focused: helping banks and credit unions move from being quota-driven product pushers to insight-driven relationship builders. 

Here’s the crux of the problem

• Many financial organizations have CRMs that are disconnected or built for another era 

• Data lives in silos (mortgage over here, commercial over there, and deposits somehow nowhere near either) 

• Marketing and sales still chase “adoption” metrics instead of “relationship” metrics 

And here’s what the solution looks like

1. Unified contact records: You need to know who your customer is, no matter where they enter your ecosystem: mortgage, credit card, branch visit, or digital app. 

2. Journey orchestration that feels human: It’s not about a drip campaign. It’s about understanding life stages, signals of intent, and delivering relevant outreach at the right time. New baby? That’s not a “you need a checking account moment,” that’s a “how can we help your growing family?” moment. 

3. Cross-functional intelligence: Total Expert enables every user (from marketers and platform admins to loan officers and personal bankers) to act on the same data insights and contact records—with compliance built in. 

The result? You stop chasing cross-sell opportunities and start earning trust. Once those human connections are formed, product growth becomes a natural byproduct. 

Let me put it this way: You can either keep counting the number of products per household or you can start counting the number of customers who’d never think of banking anywhere else. 

The post Expanding on The Financial Brand’s “Why Retail Banks Must Shift from Product Adoption to Customer Connection”  appeared first on Total Expert.

Total Expert Founder & CEO Joe Welu recently joined Geoff Zimpfer for an insightful episode of Mortgage Marketing Radio. Their conversation explored how top-performing loan officers are turning CRMs into powerful engines for retention and referrals. Joe also shared insights from high-retention lenders like Rocket Mortgage and broke down practical strategies any LO can use without needing a massive support team or a huge budget.

From the evolution of customer expectations to the growing role of AI, you’ll learn how to deliver timely, personalized engagement that keeps clients coming back. Whether you’re a loan officer, branch manager, or mortgage marketer, this episode is packed with actionable takeaways to help you thrive in a changing industry.

Watch Mortgage Marketing Radio: Why You’re Losing Repeat Business—and How to Fix It Fast

The post [Mortgage Marketing Radio] Why You’re Losing Repeat Business—and How to Fix It Fast appeared first on Total Expert.